Maxim Group Issues Pessimistic Forecast for Tenon Medical (NASDAQ:TNON) Stock Price

Tenon Medical (NASDAQ:TNON) had its price objective decreased by Maxim Group from $22.00 to $8.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target would indicate a potential upside of 201.89% from the stock’s previous close.

Separately, Benchmark reissued a “speculative buy” rating and set a $3.00 target price on shares of Tenon Medical in a research report on Wednesday, August 14th.

Tenon Medical Stock Down 5.7 %

Shares of TNON traded down $0.16 on Friday, hitting $2.65. 121,166 shares of the stock traded hands, compared to its average volume of 752,810. Tenon Medical has a 1 year low of $2.61 and a 1 year high of $22.32. The firm has a market capitalization of $1.35 million, a P/E ratio of -0.10 and a beta of 2.15. The stock’s 50 day moving average is $4.07 and its two-hundred day moving average is $1.84.

Tenon Medical (NASDAQ:TNON) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.02) earnings per share (EPS) for the quarter. The firm had revenue of $0.90 million for the quarter. Tenon Medical had a negative net margin of 413.88% and a negative return on equity of 4,819.46%.

About Tenon Medical

Tenon Medical, Inc, a medical device company, engages in the development of surgical implant systems to treat severe lower back pain in the United States and Puerto Rico. The company offers CATAMARAN SI-Joint Fusion System to fuse sacroiliac joints (SI-Joints) to treat SI-Joint dysfunction that often causes severe lower back pain; and features fixation device that passes through the axial and sagittal planes of the ilium and sacrum, as well as transfixes the SI joints.